2012 SESSION

Convened January 11, 2012
Adjourned sine die March 10, 2012
Reconvened April 18, 2012
Adjourned sine die April 18, 2012

REAL ESTATE AND REAL ESTATE TAX

(P) Passed (F) Failed (V) Vetoed (I) Incoporated into other legislation

(C) Carried over

Bank-owned real estate; repeals provision that limits period that banks may hold. Amending § 6.2-872. (Patron-Kilgore, HB 708 (Chapter 59); Watkins, SB 121 (Chapter 157))

Condominium and Property Owners’ Association Acts; foreclosure on lien for unpaid assessments, priority of certain liens. Amending §§ 55-79.84, 55-79.97, and 55-516. (Patron-Watts, HB 412 (F))

Condominium and Property Owners’ Association Acts; lien for assessments, priority. Amending §§ 55-79.84, 55-79.97, and 55-516. (Patron-Sickles, HB 1256 (C))

Constitutional amendment; real property tax exemption for certain surviving spouses of disabled veterans (first reference). Amending Section 6-A of Article X. (Patron-Barker, SJR 74 (C))

False advertising; exempts real estate brokers and salespersons from criminal and civil liability. Amending §§ 18.2-216 and 59.1-68.3. (Patron-Yancey, HB 724 (C))

Fire policy; shall provide coverage for cost charged by a volunteer fire department not funded by real estate or property taxes for services when called to save or protect property insured under policy from a peril insured against. Adding § 38.2-2129. (Patron-Johnson, HB 1202 (Chapter 371); Puckett, SB 140 (Chapter 561))

Grass; authorizes locality to require by ordinance that owners of certain real estate cut. Amending § 15.2-1215. (Patron-LeMunyon, HB 617 (F))

Hampton, City of; added to list of localities authorized to have special commissioner execute title to real estate with delinquent taxes or liens. Amending § 58.1-3970.1. (Patron-Ward, HB 202 (Chapter 87); Locke, SB 33 (Chapter 610))

Nonresident executors and testamentary trustees; conveyance of real estate located in State. Amending § 64.1-150. (Patron-Lewis, HB 763 (Chapter 61))

Owner financing for real property; exempts persons who make loans or extend credit for any part of purchase price from licensure requirements under Nationwide Mortgage Licensing System and Registry. Amending §§ 6.2-1600 and 6.2-1602. (Patron-Marshall, D.W., HB 572 (Chapter 53); Watkins, SB 76 (Chapter 188))

Property conveyance; Department of General Services to convey to County of Accomack certain real property located in Town of Accomac. (Patron-Lewis, HB 193 (F); Northam, SB 548 (F))

Property owners, low-income; Joint Legislative Audit and Review Commission to study real property tax relief. (Patron-Miller, J.C., SJR 45 (C); Locke, SJR 57 (C))

Racketeering; amends provisions that allow for forfeiture of real or personal property used in substantial connection. Amending § 18.2-515. (Patron-Morris, HB 630 (Chapter 511))

Real estate appraisal management companies; includes fee paid to appraiser in appraisal report, adds definitions of appraisal services and appraiser and provides exemptions from licensure for certain entities, etc. Amending §§ 54.1-2011, 54.1-2012, 54.1-2020, 54.1-2021, 54.1-2022, and 54.1-2023; adding § 54.1-2021.1. (Patron-Miller, HB 210 (Chapter 405))

Real Estate Appraiser Board; shall develop continuing education curriculum for licensees, report. (Patron-Tata, HB 433 (Chapter 49); Wagner, SB 507 (Chapter 388))

Real Estate Board; required to establish procedures for carryover of continuing education credits from current license period to next renewal period, duties of real estate brokers and salespersons, disclosure requirements. Amending §§ 54.1-2105, 54.1-2105.03, 54.1-2106.1, 54.1-2130 through 54.1-2134, 54.1-2137 through 54.1-2139, 54.1-2139.1, and 54.1-2141; adding §§ 54.1-2106.2, 54.1-2110.1, and 54.1-2139.01; repealing §§ 54.1-2139.2 and 54.1-2139.3. (Patron-Miller, HB 206 (Chapter 750))

Real estate tax; assessment of wetlands. Adding § 58.1-3284.3. (Patron-Orrock, HB 80 (Chapter 742))

Real estate tax; counties may establish discount for early payment or payment in full. Amending §§ 15.2-1104 and 15.2-1201.2. (Patron-Puller, SB 551 (Chapter 585))

Real estate tax; entitlement to refund for pro rata portion of taxes for disabled veterans. Amending § 58.1-3219.5. (Patron-Stuart, SB 22 (Chapter 806))

Real estate tax; exemption for disabled veterans. Amending § 58.1-3219.5. (Patron-Lingamfelter, HB 922 (Chapter 75); Marsden, SB 529 (I) See SB540; Puller, SB 540 (Chapter 263))

Real estate tax; exemption for disabled veterans. Amending §§ 58.1-3219.5, 58.1-3360, 58.1-3360.1, and 58.1-3360.2; adding § 58.1-3219.7. (Patron-Lingamfelter, HB 933 (Chapter 782))

Real estate tax; exemption for disabled veterans, Commissioner of Department of Veterans Services shall promulgate rules and regulations governing administration and implementation of exemption. Amending § 2.2-4002; adding § 58.1-3219.7. (Patron-O’Bannon, HB 190 (Chapter 594))

Real estate tax; extends sunset date that reduced tax rate on commercial and industrial property in localities in Northern Virginia. Amending second enactment of Chapter 822, 2009 Acts. (Patron-Hugo, HB 1068 (Chapter 535))

Real estate tax; prior use of any property shall not be considered in determining its current use for land use valuation purposes. Amending § 58.1-3230. (Patron-Orrock, HB 81 (Chapter 653))

Real estate tax; roll-back taxes shall not apply to property that loses its designation as devoted to agricultural or horticultural use, etc. Amending § 58.1-3237. (Patron-Orrock, HB 82 (C))

Real property; authorizes VDOT to exchange real property in Tazewell County for private property. (Patron-Morefield, HB 1224 (Chapter 460))

Real property; removes requirement that certain planning commissioners own. Amending § 15.2-2212. (Patron-Englin, HB 1029 (F))

Real property tax; attorney to request commissioner of revenue to correct assessment of property improperly placed on delinquent land books. Amending §§ 58.1-3969, 58.1-3971, and 58.1-3974. (Patron-Johnson, HB 1128 (Chapter 627))

Real property tax; concerning validity of valuation of property, new or increased assessment is authorized if error of assessment is due to fraud by taxpayer. Amending §§ 58.1-3903 and 58.1-3981. (Patron-Iaquinto, HB 483 (C))

Real property tax; exemption for elderly and disabled. Amending § 58.1-3212. (Patron-Keam, HB 1046 (F))

Real property tax; exemption for elderly and disabled, computation of annual income. Amending § 58.1-3212. (Patron-Watts, HB 408 (Chapter 299))

Real property tax; removes certain requirement in determining eligibility of elderly and disabled for tax relief. Amending § 58.1-3212. (Patron-Ward, HB 201 (F))

Real property tax valuation; when property’s use is restricted by law, fair market value shall be based on non-restricted uses. Adding § 58.1-3296. (Patron-Marshall, R.G., HB 31 (F))

Residential rental apartments; appeal of real property assessments, determination of fair market value. Adding § 58.1-3295.1. (Patron-Hugo, HB 1073 (Chapter 536); Watkins, SB 73 (Chapter 707))

Residential rental properties; establishes criteria by which an assessor shall determine fair market value for real estate used in whole or in part as defined by ordinance or locality. Adding § 58.1-3295.1. (Patron-Watkins, SB 48 (F))

Virginia Property Owners’ Association Act; limitation on certain contracts and leases by declarant. Amending § 55-509.2; adding § 55-509.1:1. (Patron-Herring, SB 628 (Chapter 671))

Virginia Real Estate Time-Share Act; developer control period. Amending § 55-369. (Patron-Cosgrove, HB 1209 (C))

Virginia Real Estate Time-Share Act; resale of time-shares, disclosures. Amending §§ 55-362, 55-380, 55-396, 55-397, and 55-400; adding §§ 55-376.5, 55-380.1, 55-394.2, and 55-394.3. (Patron-Cosgrove, HB 233 (Chapter 751))

Water and sewer authorities; may put a lien on property for delinquent rates or charges on real estate if owner is advised in a written agreement signed by authority and owner. Amending §§ 15.2-2119 and 15.2-5139. (Patron-Marshall, D.W., HB 567 (Chapter 766))

Water and sewer charges and taxes; adds Town of Onancock to list of localities permitted to provide by ordinance that those incurred shall be a lien on real estate. Amending § 15.2-2118. (Patron-Lewis, HB 199 (Chapter 620); Northam, SB 588 (Chapter 354))

Water and sewer charges and taxes; adds Town of Urbanna to list of localities permitted to provide by ordinance that those incurred shall be a lien on real estate. Amending § 15.2-2118. (Patron-Hodges, HB 757 (Chapter 441))

Wrongful foreclosure; creates civil cause of action for owner of any residential real property, etc. Adding § 55-59.5. (Patron-Marshall, R.G., HB 821 (F))

Zoning; civil penalties constitute liens on real property. Amending § 15.2-2209. (Patron-Rust, HB 863 (F); Herring, SB 229 (F))